Uncle Bernie's run off with rich people's money and now they are broke like the rest of us. The newspapers are full of articles about Madoff's scheme and the repurcussions of it on the victims, the community and the financial community as whole.
Meanwhile it seems that we are in a bona fide refi boom. 30 year fixed rates are the lowest since 1971 according to Freddie Mac. Borrowers must pay a discount point to truly get into the mid 4s, but points are no longer the devil. PMI is the devil now. Borrower's cannot seem to qualify for it, unless they really don't need it. That's going to be difficult for borrower's who purchased a home with less than 20% down and now want to reduce their rate and thus their payment. This could mean the difference between staying in their home or not.
Something needs to be done about some common sense Private Mortgage Insurance qualifications. There are good paying borrowers out there who could find some relieif right now if the mortgage insurance qualifications weren't so unruly.